Approved foreign exchange business in January 2011
PRESS RELEASE Release Date: February 15, 2011
Approved foreign exchange business in January 2011
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1.The Bank of Nova Scotia, Taipei Branch to commence the OTC NTD Options business.
2.Taiwan Shin Kong Commercial Bank to offer Principal Guaranteed 100% Structured Products composed of FCY Time Deposits linked to FCY IRS, FCY IRO and FCY Interest Rate Swaptions.
3. First-Aviva Life Insurance Co., Ltd to conduct non-investment-linked insurance business settled in foreign currencies and foreign currency loans secured by the same insurance policy.
4. E. Sun Commercial Bank, The Shanghai Commercial & Savings Bank, Taiwan Business Bank, Land Bank of Taiwan, First Commercial Bank, Taipei Fubon Commercial Bank to certify, underwrite, broker and trade onshore foreign currency short-term bills.
5. MasterLink Securities Corp. to broker and trade onshore foreign currency short-term bills.
6. 13 branches of 4 banking enterprises to operate foreign exchange business. As of the end of January 2011, there were 1,679 authorized foreign exchange banks, including 1,612 domestic banks and 67 foreign banks.